MARA Holdings transferred 996.105 BTC, valued at approximately $81.13 million, to a wallet linked to Galaxy Digital, according to blockchain tracker Lookonchain. The October 9 movement follows months of Bitcoin sales by the mining company, although available blockchain records do not establish whether Galaxy Digital sold the coins.

Transfer Raises Questions About a Possible Sale

Lookonchain identified the sending address as MARA Miner and the receiving address as Galaxy Digital. The transaction involved 996.105 BTC. Because Galaxy Digital provides trading and custody services, a transfer to its wallets does not necessarily represent a sale. Large miner wallet movements of this kind tend to attract attention because they are often read as potential selling pressure, although confirming an actual sale requires information beyond the on-chain record.

It seems that Bitcoin mining company MARA Holdings ( @MARA ) also dumped 996 $BTC ($81.13M). pic.twitter.com/xr6Bk1km4N — Lookonchain (@lookonchain) October 9, 2026 https://x.com/lookonchain/status/2108435153458733250?s=20

Neither company had explained the purpose of the movement in the reports reviewed. The transfer represented roughly 2.8% of the 35,577 BTC that MARA reported holding as of June 30, although that balance may have changed since the disclosure date.

MARA Holdings Reduces Its Bitcoin Treasury

MARA held 53,822 BTC at the end of 2025, compared with 35,577 BTC on June 30. Recent data on Bitcoin miner selling pressure showed fewer extreme outflows across the wider mining sector, even as the company continued to draw down its reserves.

During the first six months of 2026, MARA sold 23,093 BTC, raising approximately $1.6 billion. According to the company's filing, the sales helped fund operations, manage cash needs and support future investments. MARA also used $912.8 million to buy back about $1 billion of its convertible debt.

In addition, the company's June holdings included 4,742 BTC lent to third parties and 4,528 BTC pledged as collateral for loans — arrangements that show how treasury coins can move without being sold, a distinction relevant when reading the latest transfer.

Bitcoin Market Faces Fresh Pressure

Bitcoin recovered above $82,000 on Friday after declining during the week. Separately, US spot Bitcoin exchange-traded funds recorded $484.9 million in withdrawals on October 7. Those figures describe broader market conditions and do not indicate the purpose of MARA's transaction.

MARA Holdings stock gained about 2% before Friday's opening bell, approaching $10. The share movement followed Bitcoin's rebound, and the wallet transfer has not been tied to any confirmed sale.

AI Expansion Remains a Corporate Priority

MARA Holdings is increasing its focus on artificial intelligence and high-performance computing. Second-quarter revenue fell 27% to $174.9 million, while the company recorded a $611.3 million net loss. The strategy comes amid expanding demand for AI data centers and computing infrastructure, with new construction and technical hiring accompanying industry investment. MARA has identified digital infrastructure as its primary growth focus.

For now, the latest wallet movement adds to the company's record of active Bitcoin management. MARA has not disclosed whether these particular coins were intended for trading, custody, or financing activity, and updated holdings figures in the company's future disclosures would show how its treasury has evolved since the June 30 report.